The countdown for LIC’s IPO has started. This country’s biggest IPO will open on May 4 and will close on May 9. If you are also planning to invest in this IPO, then you should be aware of some things beforehand.
Preparation to raise Rs 21 thousand crore
The price band of LIC’s IPO will be between Rs 902 to Rs 949. The insurance company is planning to raise Rs 21 thousand crore through this IPO. For this 3.5 percent stake is being sold.
Reservation in IPO
The total issue size of LIC’s IPO will be 22.13 crore shares. Out of this, 10 percent i.e. 2.21 crore shares are for policy holders. At the same time, 0.15 crore shares will be for the employees.
50% share for QIB
Out of the remaining shares after reservation of employees and policy holders, 50 percent will be for QIBs, 35 percent for retail investors and 15 percent for NIIs.
share lot size
Discount on IPO
A discount of Rs 45 has been fixed for the retail investor and Rs 60 for the policy holder on the IPO.
valuation
LIC has been valued at Rs 6 lakh crore for IPO. Earlier the government had a plan to raise 30 thousand crore rupees by selling 5 percent stake. But now only 3.5 percent stake is being sold.
